A General History and Collection of Voyages and Travels — Volume 08 eBook

be employed for the voyage: Three of the
first class, who seem to have been denominated
cape merchants, were to have each L100 for
equipment, and L200 for an adventure; four factors
of the second class at L50 each for equipment,
and L100 for an adventure; four of the third
class, with L30 each for equipment, and L50 for adventure;
and four of the fourth class, with L20
each for equipment, and L40 for adventure.[88] They
were to give security for their fidelity, and to abstain
from private trade; the first class under
penalties of L500 the second of 500 marks, the third
at L200 and the fourth of L100 each.[89] These
only exhaust fifteen of the thirty-six, and we are
unable to account for the remaining twenty-one ordered
to be nominated.

[Footnote 85: Purch. Pilgr. I. 147.
Astl. I. 262.]

[Footnote 86: Ann. of the H.E.I. Co.
I. 129.]

[Footnote 87: Id. I. 130.]

[Footnote 88: Ann. of the H.E.I. Co.
I. 131.]

[Footnote 89: Id. I. 133.]

In the Annals of the Company,[90] we are told that
the funds provided for this first voyage amounted
to L68,373, of which L39,771 were expended in the
purchase and equipment of the ships, L28,742 being
embarked in bullion, and L6,860 in goods. But
the aggregate of these sums amounts to L77,373; so
that the historiographer appears to have fallen into
some error, either in the particulars or the sum total.
We are not informed of the particular success of this
first voyage; only that the conjunct profits of it
and of the second amounted to L95 per cent. upon the
capitals employed in both, clear of all charges.[91]

[Footnote 90: Id. I.146.]

[Footnote 91: Ann. of the H.E.I. Co.
I. 153.]

We may state here from the Annals of the Company,
that the profits of the third and fifth
voyage combined amounted to L234 per cent. Of
the fourth voyage to a total loss, as one of
the vessels was wrecked in India on the outward-bound
voyage, and the other on the coast of France in her
return. The profits of the sixth voyage
were L121 13:4: per cent. Of the seventh
L218 per cent. Of the eighth L211 per cent.
Of the ninth L160 per cent. The average
profits of the tenth, eleventh, twelfth, and
thirteenth voyages were reduced to L87-1/2 per
cent.

Captain James Lancaster, afterwards Sir James, who
was general in this voyage, was a member of the company;
and is the same person who went to India in 1591,
along with Captain Raymond. Captain John Davis,
who had been in India with the Dutch, was pilot-major
and second in command of the Dragon, or admiral ship.
It does not appear who was the author of the following
narrative; but, from several passages, he seems to
have sailed in the Dragon.[92]—­E.